MQS Management LLC Makes New $714,000 Investment in American Express Company (NYSE:AXP)

MQS Management LLC acquired a new position in shares of American Express Company (NYSE:AXP) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 2,652 shares of the payment services company's stock, valued at approximately $714,000.

A number of other large investors also recently bought and sold shares of AXP. Investment Management Corp VA ADV purchased a new position in American Express during the 4th quarter worth $29,000. MorganRosel Wealth Management LLC acquired a new position in shares of American Express during the 1st quarter worth $29,000. Sellwood Investment Partners LLC acquired a new position in shares of American Express during the 4th quarter worth $33,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of American Express during the 4th quarter worth $33,000. Finally, Nexus Investment Management ULC acquired a new position in shares of American Express during the 1st quarter worth $34,000. Hedge funds and other institutional investors own 84.33% of the company's stock.

American Express Stock Performance

Shares of NYSE AXP opened at $319.49 on Friday. The company has a market cap of $223.83 billion, a PE ratio of 22.31, a price-to-earnings-growth ratio of 1.55 and a beta of 1.25. American Express Company has a 12 month low of $220.43 and a 12 month high of $329.14. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57. The company has a 50-day simple moving average of $300.79 and a 200-day simple moving average of $290.59.

American Express (NYSE:AXP - Get Free Report) last released its earnings results on Thursday, April 17th. The payment services company reported $3.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.17. American Express had a net margin of 15.31% and a return on equity of 32.48%. The business had revenue of $16.97 billion for the quarter, compared to analysts' expectations of $17.04 billion. During the same period last year, the company earned $3.33 earnings per share. On average, equities analysts anticipate that American Express Company will post 15.33 earnings per share for the current year.

American Express Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be given a $0.82 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $3.28 annualized dividend and a dividend yield of 1.03%. American Express's dividend payout ratio is presently 22.91%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on AXP shares. JPMorgan Chase & Co. upped their price target on shares of American Express from $260.00 to $342.00 and gave the stock a "neutral" rating in a research note on Friday. Bank of America raised shares of American Express from a "neutral" rating to a "buy" rating and lowered their price target for the stock from $325.00 to $274.00 in a research note on Friday, April 11th. Barclays upped their price target on shares of American Express from $249.00 to $297.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. William Blair reaffirmed an "outperform" rating on shares of American Express in a research note on Wednesday, July 2nd. Finally, Keefe, Bruyette & Woods increased their price objective on shares of American Express from $360.00 to $371.00 and gave the company an "outperform" rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $305.74.

Insider Activity at American Express

In other news, insider Howard Grosfield sold 9,450 shares of the firm's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $275.50, for a total value of $2,603,475.00. Following the transaction, the insider owned 9,402 shares of the company's stock, valued at approximately $2,590,251. This trade represents a 50.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Glenda G. Mcneal sold 3,019 shares of American Express stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $264.66, for a total transaction of $799,008.54. Following the transaction, the insider owned 10,919 shares in the company, valued at $2,889,822.54. The trade was a 21.66% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.

About American Express

American Express Company, together with its subsidiaries, operates as integrated payments company in the United States, Europe, the Middle East and Africa, the Asia Pacific, Australia, New Zealand, Latin America, Canada, the Caribbean, and Internationally. It operates through four segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.

Want to see what other hedge funds are holding AXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Express Company (NYSE:AXP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.